javascript detect image

I have this situation where i am pulling in external images on a webpage from a different server to where the pages are hosted, Now since its a dynamic site if the image is not located on the server where the URL is pointing it just shows the annoying blank frame with a red X in it.

I need to know if there is any way of using javascript or any other language for that matter for somehow detecting if the image exists;

so basically;

if image exists { show picture of image } else {
if image does not exist { show another image saying 'no image' }

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